Schrute Farm Sales buys portable generators for $450 and sells them for $770. He pays a sales commission of 5% of sales revenue to his sales staff. Mr. Schrute pays $5000 a month rent for his store, and also pays $1900 a month to his staff in addition to the commissions. Mr. Schrute sold 200 generators in June. If Mr. Schrute prepares a contribution margin income statement for the month of June, what would be his variable costs? $56,300 $251,700 $97,700 $154,000
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- Schrute Farm Sales buys portable generators for $460 and sells them for $750. He pays a sales commission of 5% of sales revenue to his sales staff. Mr. Schrute pays $7000 a month rent for his store, and also pays $1800 a month to his staff in addition to the commissions. Mr. Schrute sold 300 generators in June. If Mr. Schrute prepares a contribution margin income statement for the month of June, what would be his contribution margin? Question 49 options: $75,750 $149,250 $374,250 $225,000Schrute Farm Sales buys portable generators for $500 and sells them for $760. He pays a sales commission of 5% of sales revenue to his sales staff. Mr. Schrute pays $2,000 a month rent for his store, and also pays $1,700 a month to his staff in addition to the commissions. Mr. Schrute sold 600 generators in June. If Mr. Schrute prepares a traditional income statement for the month of June, what would be his operating income? Please don't provide answer in image format thank youSchrute Farm Sales buys portable generators for $460 and sells them for $740. He pays a sales commission of 5% of sales revenue to his sales staff. Mr. Schrute pays $4,000 a month rent for his store, and also pays $2,200 a month to his staff in addition to the commissions Mr. Schrute sold 400 generators in June. If Mr. Schrute prepares a traditional income statement for the month of June, what would be his gross profit? $112,000 B. $480,000 $184,000 D. $296,000
- Phil makes and sells rugs at his roadside stand. His monthly fixed cost for owning the stand is $1500. If he makes and sells 12 rugs, his total costs are $1548 and he brings in $408 in revenue. Find Phil's monthly cost, revenue, and profit functions (assuming they are linear). Let x be the number of rugs made and sold each month.Owens sells computers. He purchases the computers for $460 each and incurs $6,000 in fixed operating expenses each month. The average cost per unit is a. $520 if owens make and sells 100 units of product b. $580 if owens make and sells 50 units of product c. $700 if owens make and sells 25 units of product d. all the answers are correctIt costs Homer's Manufacturing $0.65 to produce baseballs and Homer sells them for $4.00 a piece. Homer pays a sales commission of 5% of sales revenue to his sales staff. Homer also pays $16,000 a month rent for his factory and store, and also pays $81,000 a month to his staff in addition to the commissions. Homer sold 69,500 baseballs in June. If Homer prepares a traditional income statement for the month of June, what would be his gross profit? Question 30 options: $45,175 $278,000 $323,175 $232,825
- Patricia's Quilt Shoppe sells homemade Amish quilts. Patricia buys the quilts from local Amish artisans for $220 each, and her shop sells them for $370 each. She also pays a sales commission of 4% of sales revenue to her sales staff. Patricia leases her country-style shop for $800 per month and pays $1,600 per month in payroll costs in addition to the sales commissions. Patricia sold 95 quilts in February. Prepare Patricia's traditional income statement and contribution margin income statement for the month. Prepare the traditional income statement for the month. Patricia's Quilt Shoppe Income Statement For the Month Ended February 28 Less: Less: AIt costs Homer's Manufacturing $0.75 to produce baseballs and Homer sells them for $7 a piece. Homer pays a sales commission of 5% of sales revenue to his sales staff. Homer also pays $14,000 a month rent for his factory and store, and also pays $76,000 a month to his staff in addition to the commissions. Homer sold 70,500 baseballs in June. If Homer prepares a contribution margin income statement for the month of June, what would be his contribution margin? O A. $77,550 B. $493,500 C. $571,050 O D. $415,950It costs Homer's Manufacturing $0.75 to produce baseballs and Homer sells them for $4.00 a piece. Homer pays a sales commission of 5% of sales revenue to his sales staff. Homer also pays $12,000 a month rent for his factory and store, and also pays $75,000 a month to his staff in addition to the commissions. Homer sold 67,500 baseballs in June. If Homer prepares a contribution margin income statement for the month of June, what would be his contribution margin? Select one: a. $205,875 b. $334,125 c. $64,125 d. $270,000 e. $50,625
- Sheridan Diesel owns the Fredonia Barber Shop. He employs 4 barbers and pays each a base rate of $ 1,570 per month. One of the barbers serves as the manager and receives an extra $ 500 per month. In addition to the base rate, each barber also receives a commission of $ 9.05 per haircut. Other costs are as follows. Advertising $ 270 per month Rent $ 1,060 per month Barber supplies $0.45 per haircut Utilities $ 195 per month plus $ 0.10 per haircut Magazines $ 15 per month Sheridan currently charges $ 16 per haircut. Determine the variable costs per haircut and the total monthly fixed costs. (Round variable costs to 2 decimal places, e.g. 2.25.) Total variable cost per haircut 2$ 9.6 Total fixed 24 8320 eTextbook and Media Compute the break-even point in units and dollars. Break-even point haircuts Break even sales 2$ eTextbook and Media Determine net income, assuming 1,590 haircuts are given in a month. Net income / (Loss) $It costs Homer's Manufacturing $0.95 to produce baseballs and Homer sells them for $8.00 a piece. Homer pays a sales commission of 5% of sales revenue to his sales staff. Homer also pays $13,000 a month rent for his factory and store, and also pays $79,000 a month to his staff in addition to the commissions. Homer sold 72,500 baseballs in June. If Homer prepares a contribution margin income statement for the month of June, what would be his contribution margin?Magnuson is considering buying an eight-harness loom so that she can weave with more intricate patterns in linen. The new loom costs $1,000 and would be depreciated $20 per month. Her bank has agreed to lend her $1,000 at 18% interest per year, $200 payment of principal, plus accrued interest payable each December 31. Magnuson believes she can weave 15 linen place mat sets in time for the Christmas rush if she does not weave any cotton mats. She predicts that each linen set will sell for $50. Linen costs $18 per set. Magnuson's supplier will sell her linen on credit, payable December 31. Magnuson plans to keep her old loom whether or not she buys the new loom. The balance sheet for her weaving business at August 31, 2016, is as follows: Assets Current Assets: Cash Inventory of cotton Total Current Assets Property, Plant, and Equipment: Loom Less: Accumulated Depreciation Total PP&E Total Assets ANNE MAGNUSON, WEAVER Balance Sheet August 31, 2016 $25 175 200 500 (240) 260 $ 460 Current…